re-solicitation, renewal & win-back

Sometimes, things don’t work out how you hope. Maybe you did something to turn the relationship sour, but more often than not, you just lose touch. Or, your relationship might have come to a natural end, when renewal time comes around. Whatever the reason, all is not lost. You can re-engage lapsed customers with the right approach. But first of all, make sure you really want them back.

Value modelling

Before you invest in a win-back campaign, step back to assess if it’s the right thing to do. All too often, volume of customers is put before profitability, and in some cases you really are better off without them.
As Egg’s key strategic partner for 10 years, we provided a range of analysis and consultancy services across marketing and credit, including customer value modelling. Our team developed individual estimates of customer value that went on to be used as the basis for all decision making on customers within and across the business.

Propensity modelling

We used propensity modelling to help Swinton Insurance to re-engage with lapsed motor insurance policy-holders. Lapsed policy records provide a rich data source for modelling the likelihood of individuals responding or converting to a car insurance offer.  Using these propensity models, we developed a new segmentation and planning framework to inform Swinton's marketing activities. A new targeting approach was developed and tested, adopting alternative marketing channels, product offerings and creative strategies where appropriate.  The framework was put into practice to optimise the efficiency of mailings and outbound telesales activities, reducing the cost per policy and improving overall conversion rates.

Price Optimisation

At renewal time, it pays to take an optimisation approach to pricing, to maximise the number of customers who stay with you. Aggregator sites make it easy for them to shop around, so Pricing Optimisation helps you strike the right balance between conversion and value. For a leading insurer, this approach increased renewals to the tune of between 5-10% in predicted income.

customer acquisition
welcome & on-boarding
loyalty, retention & cross-sales
re-solicitation, renewal & win-back